Investor Presentaiton

Russian Market Overview Our goals is to extract even more value from our market leading position TMK enjoys market leading position in the Russian market of Seamless OCTG TMK's focus on seamless pipes is reflected in its market shares in Russia TMK's market shares in the Russian market (%) for 1H 2014 70% 60% 50% 40% 30% 63% 60% 20% 28% 24% 10% 16% 11% 0% Seamless Line Seamless OCTG Pipe Pipe Seamless Industrial Pipe Welded Line Pipe Large Diameter Welded Industrial Pipe Pipe Source: TMK estimates Russian oil majors forecast to increase upstream capex circa 25% in 2014 39.4 40 34.7 33.1 30.8 31.1 30 27.0 25.7 U.S.$ bn 21.3 20 20 18.9 10 10 0 2008 2009 2010 2011 2012 Gazprom Neft 2013E SurgutNG ■ TNK-BP 2014E 2015E 2016E ■ Tatneft ■ Bashneft ■LUKoil ■Rosneft Source: Citi equity research 7 TMK

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